Watch the Funk It Away online guitar lesson by Stu Hamm from Essentials: Funk Bass Grooves
You can really dig into this groove. On my bass, you get a hint of distortion if you really lay into the notes, and in this case I feel that it's acceptable to add some bite to your sound....there is nothing polite about this groove!
Pay close attention the the muting section and spend some time getting used to the different levels of muting you can get by applying more pressure to the strings with your palm. The up-slides and down-slides also add character to the bassline. Feel free to add you own fill at the end of the phrase!